TAIPEI Jan 9 Taiwan's central bank on Monday
said it would ease rules to allow securities firms to handle
spot and derivatives products denominated in the local currency
against foreign currencies in a bid to expand the industry's
scope of services.
The move marks the central bank's next step in bolstering
the competitiveness of brokerages since it allowed the sector to
handle foreign exchange business in 2013, the central bank said
in a statement.
The new rules allow brokerage firms to offer the new
services to their customers, it said, but gave no timetable for
adoption of the rules.
The central bank's decision will benefit Taiwan's fragmented
securities sector, which has been struggling with the stock
market's declines in turnover.
(Reporting by Faith Hung and Loh Liang-sa; Editing by Clarence